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5G LAWS (W NORTH-CAROLINA. so made upon the lioldors hv the Presideiit ami Directors, in some new^^ jiajHT in thes^tate of VirjLnfiia. The interest of vei7 many of the, good people of this comtiidDu aitli requires that the i:nprovemeiU. of the a ivij^ation <\i t.ie iloannke river u'.id its branches, capahle ofbeing mudo navi<j;able botli in Noriii-Caroiiua and Viro-inia, should be begun and completed a^ ear!} as possible, aiul t at the right to improve the navigation of tlie said river and its branches s lail Le vestet' in one companv. Be it further enacted^ 'i'hat the esc'usive right to improve the navi-gaiii) u of said river and its branches, '.vithin thi- limits f t^e state t>f Vir-ginia, shall be and the same is hereby vested in tlieconijiahy incorporated by several acts of the state Legislature -d' Noi th-Carolitiu, passed in the years one tliousand eight hundred and twelve, one timu.^atid eight hundied and fifteen and one thousand eight hundredand sixteen, tor the purpuSf of improving the navigjiiion of t!ie Roanoke river,from w here the Virgiida line intersects the river to the Albem.irle sound, ird tailed ' the Roanuke Na-vigation Company," that the powers of tne President and Directm-s of :^ujlt Company, now elected, and their successors, stmlh-xtend to a; d be ex-.-r-cised over the improvement of the said riveiand its br;inciies,w ochai.' CiC-ated and vested in them by tiie several acts of incorj/oration giaoied them by the State of North-Carolina over that jyarttd the river Roan(ke'\vhich runs througii the State :)f North-Carolina ; and the right-! of tlie compa-ny to improve the navigation of the said river and its branches, with all otlier rights and powers created by this act and ve>ted in the conipic'V, shall be held, exercj.-ed and enjoyed in common both by tlie ciiixen^ of Virginia and the state of Noith-Caroliua, vmio are now or shall herea'ier become stockholders in the said company ; and that fo and in conside-ration of the expenses the said Compfttiy shall be at. riot only in cutting canals, erecting locks, and other vvoik.^ for opening tiie <iitteient falls of the said river, and in improving anti extending the navigation thereof,lut in maintaining and keening the same in repair, tiie said canals and works with ail their profits, shall be and (he same are Hereby vested in the st .ck-holders of the aforesaid Cojiipany, who now are or shall heif alter oec snie 49t(fckholders, their heirs and assigns forever, as tenants io comoion m proportion to their respective shares, and the same shall be deemetl real ii^istate, and be forever exempt from the payment ol' any tax, impo-sition or assessment whatever. It shall and may be lawful for the said Pi e^irtent and Directors to receive tolls, and fix them at such rates that the iiett profit to be received by the Company, when they shall have co.in)let- &i'\ the navigation of the said river and its branches vvithin the state of Virginia and North-Carolina, according to the conditjoos of tbeir chariec granted by thatstat^, fifteen pec cent, nett profit exclusive of the expetises i>f ofBcer's fee-* and all other charges annuaUy incurred upon the capi-tal stock created by the state of North-Carolioa, and wliich shall he added thereto by this law.^'But should the said Contpany net expend the whole stock created by their acts «l incorporation granted by the state of Northi Carolina, and the stock to be added thereto by this law, in the improve-, inentof the navigation of the said river and its branches, and the carry-ing into full effect their chaiter granted by the Ligisiat.n-e of North-Ca-rolina- that then they shiiii otily receive fifteen por cent, neti profit upon SP much of their capita! as they shall actually liave expended in carrying iheir several ch^rtgrs inte ii^ii eilect. The President aud Oirectow an^
5G LAWS (W NORTH-CAROLINA.
so made upon the lioldors hv the Presideiit ami Directors, in some new^^
jiajHT in thes^tate of VirjLnfiia.
The interest of vei7 many of the, good people of this comtiidDu aitli
requires that the i:nprovemeiU. of the a ivij^ation <\i t.ie iloannke river u'.id
its branches, capahle ofbeing mudo navi